Indian River Community Foundation

Building A Better Community Through Donor-Driven Philanthropy

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Community Foundation, United Way, Philanthropy Help Lead Local COVID-19 Response

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On Monday March 24, 2020, Indian River Community Foundation (“IRCF”) joined the United Way of Indian River County and other community leaders to launch the COVID-19 Community Response Fund. 

During the past two weeks, IRCF has encouraged clients to help in the following ways:

  1. Make 2020 charitable distributions from donor advised funds to local charities now, especially if accounts hold a significant cash position.
  2. Make a gift to the United Way’s COVID-19 Community Response Fund now, either directly or bundled with other client contributions to the IRCF COVID-19 Fund.
  3. Make a significant gift to save or sustain a specific charitable organization, especially ones serving vulnerable individuals and families. 

Community Foundation Client Response

After just two weeks, IRCF’s clients have responded generously including the following:

  • Distributions of more than $150,000 to the United Way’s COVID-19 Community Response Fund, including $50,000 from the Community Enrichment Fund and additional support from the following accounts: A Caring Family Fund, Becker Family Foundation, Buffington Family Fund, Carole and Phil Coviello Charitable Fund, Forrester Family Fund II, Larry and Susan Salustro Fund, and two anonymous funds.
  • Gifts of significance from IRCF clients to sustain individual charities identified by IRCF’s staff team as experiencing both an immediate increase in demand for services and a shortfall in earned income or contributions.  For example, one client family made a personal commitment of $90,000 to Childcare Resources to keep experienced preschool teachers employed while covering some of the tuition payments from working families for the next three months. Another client made her first gift of significance of $10,000 to the Humane Society to help with the increased demand for services. 

First Distributions from United Way’s COVID-19 Community Response Fund

The United Way’s COVID-19 Community Response Fund is being used to support local organizations working to meet community needs related to the health crisis. Priority needs include food, rent and utility assistance for low-income individuals and families.  In just two weeks, distributions from this fund have been coordinated by a committee made up of knowledgeable community leaders and grantmakers which includes IRCF. These include the following:

  • $126,600 for rent, utility and food assistance to low-income families.
  • $71,000 to help seniors.

How to Help?

Visit www.unitedwayirc.org or contact IRCF’s donor services team at 772.492.1407 or donorservices@ircommunityfoundation.org. 

A Recent New York Times Article Provides Strategies for How Philanthropists Can Help During the COVID-19 Crisis

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Paul Sullivan of the New York Times surveyed over a dozen influential philanthropists to provide six strategies for giving during this COVID-19 health crisis. He shares the following tips for donors who are wondering how to make significantly impactful donations.

Strategy 1: Distribute funds to charities through your local community foundation. Community foundations sustain important relationships with the most effective charities. Work with your foundation’s donor services team to pinpoint which organizations will use your donation to help the greatest amount of people.

Strategy 2: Give to your regular charities. Many organizations without a specific COVID-19 fund have seen a decline in donations during this time. Cancellation of annual fundraising events is a significant factor in the decline of funds. If you were planning on attending a cancelled fundraiser event, consider making a donation instead.

Strategy 3: Give to organizations that are supported by the government. This will act as a bridge to fund programs until public money has been cleared. Unforeseen expenses in organizations such as medical centers who need to buy testing kits will benefit greatly from these efforts.

Strategy 4: Accelerate your donor-advised fund giving plan. Money held in donor-advised funds have already been claimed as a tax deduction and often have a giving plan in place, though it may be spread out over an extended timeline. You can reevaluate those timelines in an effort to give to affected charities through your fund now.

Strategy 5: Adapt to the current crisis. When you make your donations to affected charities, consider loosening restrictions. An unrestricted donation ensures that your funds are going to areas where the organization needs it the most.

Strategy 6: Share your philanthropic efforts with others. Let people know of the good work you are doing. This will inspire friends as well as public leadership figures to contribute in similar ways.

To read the full New York Times article, please click here.

Local Charities Challenged by COVID-19, Here’s How You Can Help

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In Indian River County, 51% of households lack sufficient savings to withstand a sudden loss in wages. IRCF and the United Way believe hourly, low-wage workers and their families will experience unprecedented financial hardship in the months to come. Last week, IRCF and the United Way conducted an emergency needs survey and learned that at least 30 local charitable organizations that serve vulnerable individuals and families in our community expect an increased demand in services while at the same time expect a decrease in earned revenue or contributions due to canceled fundraising activities. Many of these organizations will be either laying off staff or doing their best to operate with a reduced workforce. Here are some ways you can help.

  1. Make Your 2020 Charitable Contributions Now

Review the annual contributions you made in 2019 and make your 2020 contributions now, especially if you plan to give cash. If one or more of your favorite charities serves vulnerable individuals and families, consider increasing the amount. More information about local charities can be found here:

  1. Make a Gift to the United Way’s COVID-19 Community Response Fund Now

The United Way of Indian River County’s COVID-19 Community Response Fund will be used in the coming weeks and months to support local charities and the individuals and families they serve who are affected by the crisis. Priority needs will include food, rent and utility assistance for low-income individuals and families. Distributions from this fund will be coordinated by a committee made up of knowledgeable community leaders and grant-makers including Indian River Community Foundation.

  1. Make a Significant Gift to Save, Sustain a Specific Charitable Organization

90 percent of local charitable organizations hold less than 12 months savings on their balance sheets in preparation for a “rainy day.” IRCF has identified several local charitable organizations whose mission and programs are critical to the quality of life of vulnerable individuals and families in our community, and whose business continuity will be severely impacted by the increased demand in services and loss of earned income and other revenue at the same time. If you would like to discuss making a more significant gift to save or sustain a specific organization, please contact a member of IRCF’s donor services team directly at 772.492.1407 or donorservices@ircommunityfoundation.org.

Giving is Good. Giving Together in Times of Need is Better.

We live in one of the most generous communities in the nation, with annual household giving nearly double that of the average American household. Unique to Indian River County, this holds true for households across all income levels. Now is the time for those of us with capacity to do so to join together and give. While we expect the immediate future to be difficult for many, with your help we believe it will get better.

Indian River Community Foundation was established in 2008 with a mission of building a better community through donor-driven philanthropy. With assets of more than $70 million in 175 charitable giving accounts, the Community Foundation and its clients have awarded more than $70 million in grants, mostly to nonprofit charitable organizations located in Indian River County, Florida. Visit www.ircommunityfoundation.org to learn more.